ISCOVER
The non-major bank has overtaken Bendigo and Adelaide Bank to become the sixth-largest bank by loan book size in the country.
ING Bank Australia (ING) has moved up the lending leaderboards, as new statistics from the Australian Prudential Regulation Authority (APRA) showed the non-major bank has overtaken Bendigo and Adelaide Bank to become the nation’s sixth-largest lender by loan book size.
Since 2021, the banks with the largest Australian mortgage books have been:
-
Commonwealth Bank of Australia (CBA)
-
Westpac Banking Corporation (Westpac):
-
National Australia Bank (NAB):
-
Australia and New Zealand Banking Group Limited (ANZ)*
-
Macquarie Bank
-
Bendigo and Adelaide Bank
-
ING
-
Bank of Queensland
However, according to the monthly authorised deposit-taking institution (ADI) statistics for May 2025, ING has reclaimed its position as the sixth-largest lender in the Australian mortgage market, for the first time in four years, following a stagnation in growth in Bendigo and Adelaide Bank’s loan book.
The May 2025 figures showed that ING’s total loan book reached $65.4 billion, up 0.61 per cent on April figures. This comprised an owner-occupied book of $52.4 billion and investment loans totalling $12.9 billion.
This milestone was achieved as Bendigo and Adelaide Bank’s loan book grew by just 0.04 per cent in May 2025, bringing its total to $65.07 billion.
Its owner-occupied book stood at $49.9 billion in May, with its investor book at $15.07 billion.
Noting that it was Australia’s sixth-largest home loan bank in May, ING suggested its growth was due to recent enhancements to its home loan offering and the “unwavering support of broker partners”.
George Thompson, head of home loans at ING, commented: “Seeing ING back in the top six lenders is a strong signal that what we’re doing is working – from supporting the needs of more Australian borrowers to improving our digital experience for brokers and customers alike.
“A big thank you to our broker partners for your continued trust and support. Let’s keep the momentum going.”
How did the majors fare?
Overall, the total loans to households on bank books totalled $2.32 trillion in May 2025, up from $2.31 billion the month prior and up 5 per cent from $2.20 billion in the same period last year.
Australia’s major banks continued to demonstrate robust performance within their home loan portfolios during May 2025.
Maintaining its market leadership, CBA’s total mortgage portfolio reached $588.9 billion in May, marking a 0.51 per cent increase month on month. This comprised a substantial owner-occupied book of $388.78 billion and an investment loan book that surpassed $200 billion for the first time.
Westpac’s total loan book stood at $485.4 billion, a 0.28 per cent increase. Its owner-occupied home loan book expanded to $321.9 billion, complemented by investor loans reaching $163.4 billion, with both reflecting steady progress.
NAB had a total mortgage portfolio of $332.1 billion, up 0.50 per cent, over the month.
Owner-occupied housing loans amounted to $220.79 billion, more than $1 billion up on April figures, while its investor portfolio grew more gently to $111.33 billion.
ANZ’s total loan book reached $316.16 billion, a 0.58 per cent increase on the prior month. The bank reported owner-occupied home loans of $211.2 billion and an investor loan book of $104.95 billion.
The remaining top 10 banks by loan book size
Macquarie Bank continued its trajectory of aggressive mortgage book expansion. In May 2025, its total loan book surged to $141.2 billion, representing a significant 1.6 per cent increase on April figures and a marked 19.5 per cent increase on its loan book size in May 2024.
This growth was significantly supported by owner-occupied lending; its owner-occupied mortgage book grew by $1.5 billion over the month to $88.28 billion. Meanwhile, its investor loan book rose to $52.98 billion.
Conversely, the Bank of Queensland (BOQ) saw its loan book contract again in May 2025. The bank, which paused home lending through the dominant third-party channel last year, saw its mortgage book reduce by 0.67 per cent over the month.
BOQ’s total loan book was $56.43 billion, with owner-occupier loans making up $39.40 billion of that, down from $39.71 billion in April. Its investor loan book also fell over the month, dropping from $17.10 billion to $17.02 billion in May.
Rounding out the top 10 largest mortgage banks in May 2025 was Suncorp Bank (reported as Norfina Ltd), whose total book grew 0.96 per cent over the month to $56.15 billion. Its growth was bolstered by growth in both its owner-occupied lending and investor book, with the latter growing to $15.85 billion.
HSBC Bank’s total portfolio reached just over $33.0 billion in May, up 0.61 per cent. This included $23.05 billion in owner-occupied and $9.94 billion in investment loans.
*ANZ’s figures exclude Suncorp Bank’s loan book (now part of the ANZ Group), which is classed separately from ANZ figures by APRA (under the name Norfina). However, the subsidiaries of the other big four banks are classed as part of their parent group. If APRA were to class Suncorp Bank’s figure as part of ANZ’s figures, ANZ would overtake NAB to be the third-largest home loan bank in Australia.
[Related: What do brokers think of the major banks?]
JOIN THE DISCUSSION